{"id":18729,"date":"2021-12-15T09:52:23","date_gmt":"2021-12-15T13:52:23","guid":{"rendered":"https:\/\/www.chmafm.com\/welcome\/?p=18729"},"modified":"2021-12-15T10:12:30","modified_gmt":"2021-12-15T14:12:30","slug":"town-finances-in-good-shape-as-sackville-socks-away-1-million-in-reserves","status":"publish","type":"post","link":"https:\/\/www.chmafm.com\/welcome\/town-finances-in-good-shape-as-sackville-socks-away-1-million-in-reserves\/","title":{"rendered":"Town finances in good shape as Sackville socks away $1 million in reserves"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-06-at-10.35.02-AM.png\"><img fetchpriority=\"high\" decoding=\"async\" width=\"899\" height=\"672\" sizes=\"(max-width: 899px) 100vw, 899px\" src=\"https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-06-at-10.35.02-AM.png\" alt=\"\" class=\"wp-image-17145\" srcset=\"https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-06-at-10.35.02-AM.png 899w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-06-at-10.35.02-AM-300x224.png 300w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-06-at-10.35.02-AM-768x574.png 768w\" \/><\/a><figcaption>Town treasurer Michael Beal presenting at council on Monday, October 4, 2021.  <\/figcaption><\/figure>\n\n\n\n<p>At Monday\u2019s meeting of Sacvkille town council treasurer Michael Beal told council that the town is ending 2021 in a good financial position, and recommended depositing just over one million dollars into the town\u2019s reserve funds.<\/p>\n\n\n\n<p>The town spent less than budgeted in certain areas due to staffing vacancies, the cancellation of the Fall Fair, and last minute extra funding under the federal Safe Restart program that was unbudgeted in 2021.<\/p>\n\n\n\n<p>Council approved the transfer of $100,000 to its operating reserve, and $900,000 to its capital reserve.<\/p>\n\n\n\n<p>The operating reserve is now sitting at about $300,000 which may be used to cover the backpay for RCMP officers as a result of their first ever contract signed with the federal government this year.<\/p>\n\n\n\n<p>The town\u2019s capital reserve fund will grow to $2.7 million with this year\u2019s deposit. That money will be used for some projects already planned but not executed this year, and also the town\u2019s portion of the Lorne Street Phase 3 project, should funding come through from the provincial and federal governments.<\/p>\n\n\n\n<p>The town\u2019s capital reserve fund will grow to $2.7 million with this year\u2019s deposit. That money will be used for some projects already planned but not executed this year, and also the town\u2019s portion of the Lorne Street Phase 3 project, should funding come through from the provincial and federal governments.<\/p>\n\n\n\n<p>The town\u2019s water and sewer capital reserve fund is also growing by $200,000, thanks to a $100 per user flat fee charge for severe treatment. That fee is part of a long term savings plan to help pay for upgrades to Sackville\u2019s sewage lagoons, expected to cost about $14 million according to recent estimates. The current water and sewer reserve will increase to $740,000 with this year\u2019s deposit. In 2022, the flat fee will go up by $20, and that increase is planned to continue for the next four years, which should put the reserve fund at $2.3 million at the end of 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At Monday\u2019s meeting of Sacvkille town council treasurer Michael Beal told council that the town is ending 2021 in a good financial position, and recommended depositing just over one million [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":17145,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_tec_requires_first_save":true,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"_tribe_blocks_recurrence_rules":"","_tribe_blocks_recurrence_description":"","_tribe_blocks_recurrence_exclusions":"","footnotes":""},"categories":[472,492,482,558],"tags":[694,346,495],"class_list":["post-18729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-daily-news","category-front-page","category-weekly","tag-michael-beal","tag-sackville-new-brunswick","tag-sackville-town-council"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Town finances in good shape as Sackville socks away $1 million in reserves &#187; 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